Harmonic Inc.’s $115.5 Million Convertible Senior Notes Offering


Davis Polk advised the initial purchasers in connection with a Rule 144A offering by Harmonic Inc. of $115.5 million aggregate principal amount of its 2.00% convertible senior notes due 2024, including $10.5 million aggregate principal amount of notes sold pursuant to the initial purchasers’ exercise of their option to purchase additional notes.

Harmonic Inc. is a leading global provider of versatile and high performance video delivery software, products, system solutions and services that enable their customers to efficiently create, prepare, store, playout and deliver a full range of high-quality broadcast and OTT video services to consumer devices, including televisions, personal computers, laptops, tablets and smart phones and cable access solutions that enable cable operators to more efficiently and effectively deploy high-speed internet, for data, voice and video services to consumers’ homes.

Barclays Capital Inc., Dougherty & Company LLC, Needham & Company, LLC, Northland Securities, Inc., Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated acted as initial purchaser on the deal.

The Davis Polk corporate team included partner Emily Roberts (Picture) and associate Benson Richards. The equity derivatives team included partner Mark J. DiFiore and associate Justin Lashley. Partner Rachel D. Kleinberg provided tax advice. Associate Christopher C. Woller provided intellectual property and technology advice. Associate Amy L. Larsen provided 1940 Act advice.

Involved fees earner: Mark DiFiore – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; Amy Larsen – Davis Polk & Wardwell; Justin Lashley – Davis Polk & Wardwell; Benson Richards – Davis Polk & Wardwell; Emily Roberts – Davis Polk & Wardwell; Christopher Woller – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Capital ; Dougherty & Company; Needham & Company; Northland Securities, Inc.; Raymond James Financial, Inc.; Stifel, Nicolaus & Company, Incorporated;